Gulf Keystone Petroleum (LON:GKP) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Gulf Keystone Petroleum Limited (LON:GKP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 184.85 and traded as high as GBX 200.50. Gulf Keystone Petroleum shares last traded at GBX 198.20, with a volume of 3,061,478 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their target price on Gulf Keystone Petroleum from GBX 250 to GBX 240 and set a “speculative buy” rating for the company in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Gulf Keystone Petroleum has a consensus rating of “Buy” and a consensus price target of GBX 252.

Gulf Keystone Petroleum Trading Up 0.4%

The firm has a fifty day moving average of GBX 188.77 and a two-hundred day moving average of GBX 184.85. The company has a market cap of £430.77 million, a PE ratio of -521.58, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. The company has a current ratio of 1.28, a quick ratio of 2.18 and a debt-to-equity ratio of 0.31.

About Gulf Keystone Petroleum

Gulf Keystone Petroleum Limited engages in oil and gas exploration, development, and production in the Kurdistan Region of Iraq. The company operates Shaikan field that covers an area of approximately 280 square kilometers, which is located north-west of Erbil. It also provides management, support, geological, geophysical, and engineering services. The company was incorporated in 2001 and is based in Hamilton, Bermuda.